Fixed deposit (sometimes called time deposit) accounts are low-risk investments that earn you interest over a fixed commitment period. You don't need to do anything to earn this interest, just park your money with a bank. Think of it like mould on a piece of bread. Just leave it out in the open and mould will grow — Free! — on your bread for you. Seriously, though, fixed deposits are great if you have a substantial amount of money lying around and you don't want to risk investing it. Fixed deposits are extremely low risk ways to grow your money.

https://www.asiaone.com/money/best-fixed-deposit-rates-singapore-august-2022-dbs-uob-ocbc-and-more

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